Current New Vehicle Market

[jpro]

To be honest, I wish the used car market bubble would burst quicker than it is. With the new car market being nonexistent due to lack of inventory, I wish the rising interest rates and inflation would crater the used market and eliminate the majority of buyers in an instant. No offense to Nick and other dealers that are good to their customers, but it would be sweet if all the ADM, get rich quick dealers had to eat all their overpriced used inventory because demand flatlined. I hope for karma since dealers are making record profits right now. I have no idea who is buying cars right now but they must be on heavy drugs.

References regarding dealers' record profits:
The Detroit Bureau
and
Motor1.com

 

[13COBRA]

To be honest, I wish the used car market bubble would burst quicker than it is. With the new car market being nonexistent due to lack of inventory, I wish the rising interest rates and inflation would crater the used market and eliminate the majority of buyers in an instant. No offense to Nick and other dealers that are good to their customers, but it would be sweet if all the ADM, get rich quick dealers had to eat all their overpriced used inventory because demand flatlined. I hope for karma since dealers are making record profits right now. I have no idea who is buying cars right now but they must be on heavy drugs.

References regarding dealers' record profits:
The Detroit Bureau
and
Motor1.com

Profits are really up in sales. They're up in service though, and will continue to increase as the average age of a vehicle on the road increases.


Interesting article.

GM to penalize consumers who resell certain high-demand vehicles within 12 months​

GM is asking dealers to help prevent customers from quickly flipping high-demand vehicles and adding exorbitant markups.​

August 01, 2022 04:34 PM UPDATED 17 HOURS AGO
HANNAH LUTZ

DETROIT — General Motors is asking dealers to help prevent customers from quickly flipping high-demand vehicles and adding exorbitant markups.
The automaker is barring customers who resell certain high-demand vehicles within 12 months from placing future reservations and orders. GM also is limiting the transfer of certain warranties.
Steve Carlisle, president of GM North America, outlined the change in a letter sent to dealers Friday. For now, GM considers the 2023 Cadillac Escalade-V, Chevrolet Corvette Z06 and GMC Hummer EV pickup and SUV "high demand" models that the requirement would affect.

 

[Tezz500]

Profits are really up in sales. They're up in service though, and will continue to increase as the average age of a vehicle on the road increases.


Interesting article.

GM to penalize consumers who resell certain high-demand vehicles within 12 months​

GM is asking dealers to help prevent customers from quickly flipping high-demand vehicles and adding exorbitant markups.​

August 01, 2022 04:34 PM UPDATED 17 HOURS AGO
HANNAH LUTZ

DETROIT — General Motors is asking dealers to help prevent customers from quickly flipping high-demand vehicles and adding exorbitant markups.
The automaker is barring customers who resell certain high-demand vehicles within 12 months from placing future reservations and orders. GM also is limiting the transfer of certain warranties.
Steve Carlisle, president of GM North America, outlined the change in a letter sent to dealers Friday. For now, GM considers the 2023 Cadillac Escalade-V, Chevrolet Corvette Z06 and GMC Hummer EV pickup and SUV "high demand" models that the requirement would affect.

Curious how they would know what I did with my property?

 

[13COBRA]

Curious how they would know what I did with my property?

They'll track registrations.

 

[Tezz500]

They'll track registrations.

That seems perverse doesn't it?

 

[CompOrange04GT]

That seems perverse doesn't it?

“ we the dealer can make profit but you can’t “

That’s legit the vibe it gives off

 

[13COBRA]

That seems perverse doesn't it?

I don't disagree.

The OEMs are overstepping their bounds.

 

[Tezz500]

“ we the dealer can make profit but you can’t “

That’s legit the vibe it gives off

100% my thoughts

 

[13COBRA]

“ we the dealer can make profit but you can’t “

That’s legit the vibe it gives off

100% my thoughts

Back it up a level.

This is the OEMs mandating things. The OEMs want control of all of it.

 

[Weather Man]

Subaru of America July sales declines 17.1%

Mazda U.S. sales slips 28.5% in July

American Honda July sales down 47% Y/Y

 

[MG0h3]

Ouch


Sent from my iPhone using svtperformance.com

 

[13COBRA]

 

[Rb0891]

Back it up a level.

This is the OEMs mandating things. The OEMs want control of all of it.

Lmao. Taxpayers also bailed out those pos. Loyalty to a brand… lmao.

I get you are somewhat stuck in the middle of these decisions which sucks.

 

[13COBRA]

Lmao. Taxpayers also bailed out those pos. Loyalty to a brand… lmao.

I get you are somewhat stuck in the middle of these decisions which sucks.

I think it's wrong that an OEM should dictate price. Let the guys doing it wrong, weed themselves out...leave the rest of us to take care of our customers.

 

[T56LS102]

IMO this wont happen until new car production increases, I don't believe we will ever see the production #s pre covid... OEM's are making fewer cars at the same time making more $$...they are going to ride out this "chip shortage" until the wheel fall off.

To be honest, I wish the used car market bubble would burst quicker than it is. With the new car market being nonexistent due to lack of inventory, I wish the rising interest rates and inflation would crater the used market and eliminate the majority of buyers in an instant. No offense to Nick and other dealers that are good to their customers, but it would be sweet if all the ADM, get rich quick dealers had to eat all their overpriced used inventory because demand flatlined. I hope for karma since dealers are making record profits right now. I have no idea who is buying cars right now but they must be on heavy drugs.

References regarding dealers' record profits:
The Detroit Bureau
and
Motor1.com

 

[C2tuck]

I think it's wrong that an OEM should dictate price. Let the guys doing it wrong, weed themselves out...leave the rest of us to take care of our customers.

That makes too much sense Nick.

Kinda goes along with big brother telling me I have to accept gay/trans/fat people…

 

[Weather Man]

IMO this wont happen until new car production increases, I don't believe we will ever see the production #s pre covid... OEM's are making fewer cars at the same time making more $$...they are going to ride out this "chip shortage" until the wheel fall off.

EV's take twice as many chips as ICE, and they are all trying to ramp EV production as fast as possible. So, the wheels will probably take a good long time to fall off, unfortunately.

 

[Booky]

 

[13COBRA]

LOL

 

[Tezz500]

LOL

Didn’t we go over this back in April?